The Bank of England should be ready to raise borrowing costs as early as August, says a member of its Monetary Policy Committee

Martin Weale’s comment indicate that the committee faces a split over the timing of the first rate rise since the financial crisis.

Companies and Markets

US senators grill Takata over airbags

Hearing raises fresh questions over safety of Japanese group’s inflators

Takata came under fierce criticism from US senators even as the Japanese airbag manufacturer insisted that it was close to understanding the cause of a series of fatal explosions that has killed at least eight people.

Centrica chief plots move into calmer waters

Conn’s review of energy group is expected to downsize E&P amid low North Sea returns and shrinking share price

Chief slashes jobs and applies rigour at Avtovaz

Lada advances but life is tough in the most troubled part of the Renault-Nissan empire

Petrofac buoyed by positive cost outlook for North Sea project

Shares in Petrofac rose as much as 11 per cent yesterday after the oil services group said the end was in sight for costly problems at a flagship North Sea venture.

The Times

Treasury defends support for working women

The Treasury has defended the support given to working women after an EU report said stay-at-home mothers were a key “social challenge” for the UK.

Buying a house on noisy road raises the risk of stroke

The traffic outside your house could be killing you. Scientists believe that the stress associated with living near busy roads could reduce life expectancy.

Cyclists scared off streets but walking is on the rise

The number of cyclists taking to the road is failing to increase amid continuing concerns over safety, government statistics show.

Lorry cam will show cars the way ahead

Technology that allows drivers to overtake lorries without fear of a head-on collision is on trial.

Business

Brexit ‘poses threat to City, sterling and economic growth’

Britain has been warned that the vote on its membership of the European Union could deal a heavy blow to the economy by forcing global banks with large operations in the UK to consider moving elsewhere.

The Daily Telegraph

Let’s ban ‘all parking on pavements’

MPs have called for a ban on “irresponsible” pavement parking across England and Wales that blocks footways and forces pedestrians into busy roads.

Business

UK finance has nothing to fear from EU exit

EU regulation has had a substantial impact on the UK financial sector, dictating the way that financial firms conduct themselves, the products they can sell, and the standards they are expected to meet.

The Guardian

Businesses call for more support from ministers

The government must do more to turn around Britain’s weak export performance, according to a report that calls for cabinet-led action to simplify support for businesses.

The Daily Express

Uninsured bills hit drivers hard

Being hit by an uninsured driver is the biggest fear older motorists have on the road.